| | | May 30, 2012
MBMI's Year End Financial Statements Delayed
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| | Richmond Hill, Ontario May 30, 2012 -- MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX-V: MBR) announces that it anticipates a delay in the filing of its audited annual financial statements for the year ended January 31, 2012 ("Financial Statements"), and the related management's discussion and analysis of those financial statements ("MD&A"), which are due on May 30, 2012. The delay is due to a delay in the completion of the audit of the Financial Statements, which is currently in its final stages.
MBMI anticipates that the Financial Statements and MD&A will be filed on or before June 10, 2012.
Due to the anticipated delay in filing, MBMI has requested that the British Columbia Securities Commission (the "BCSC"), its principal regulator, issue a management cease trade order ("MCTO") prohibiting trading in securities of MBMI by the Chief Executive Officer, Chief Financial Officer, and, potentially, members of the board of directors of MBMI. The MCTO, if granted, is anticipated to be in place until the default is remedied. MBMI acknowledges that the BCSC may impose an issuer cease trade order restricting all trading in the securities of MBMI if the MCTO is in place and the default is not remedied by July 31, 2012.
MBMI confirms that it intends to satisfy the provisions of the CSA Regulator's alternate information guidelines (as described in National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults) so long as it remains in default of its Financial Statement and MD&A filing requirements.
Contacts:
For further information relating to the Company or this release, please refer to the Company's website at www.mbmiresources.com or contact John Wong, President and CEO by telephone at 905-886-3888 or by email at mbmi@mail.com.
Cautionary Statement:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. |
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